France passes the first test of the digital euro
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Answer France passes the first test of the digital euro
Last month, we reported on the Arab Bitcoin website that the French Central Bank was preparing to enter the trial and test the digital euro.
France is making big strides towards the digital euro
The test has already been initiated and completed successfully, as the French investment bank “Société Générale” participated in the digital euro test, which took place on May 14, according to Source.
The French Central Bank has completed its test of a blockchain-based digital euro. In the test, the Bank of France used blockchain technology – developed internally – to create digital securities representing the euro.
🗞️[Communiqué] The Bank of France has just successfully tested the use of a #blockchain To try using a central bank digital currency. Further trials will be conducted in the coming weeks. 👉 #CBDC pic.twitter.com/PZ9FQvWihr
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– Bank of France (banquedefrance) May 20, 2020
The investment bank “Societe Generale” participated in the test, according to press release Which was published by the French Central Bank, which came as follows:
Since the beginning of the year, the Banque de France has embarked on a pilot approach to a central bank digital currency, aiming to explore the potential contributions of new technologies with partners to improve the performance of financial markets and in particular interbank regulations.
In the next few weeks the French central bank will continue to conduct more experiments.
This will involve sending digital euros between banks, according to the same press release.
In December 2019, François Villeroy de Gala, the governor of the French Central Bank, stated that he wanted France to be the first country to issue a digital currency.
Francois explained at the time:
We intend to start experimenting quickly and launch a call for private players by the end of the first quarter of 2020.
The digital euro will initially be used between banks, rather than ordinary citizens, according to Francois, who explained that the digital currency for retail customers will be subject to special conditions.
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Other countries, including China and the Marshall Islands, are developing their own digital currencies.
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China Central Bank: New digital currency will be ready for use in 2022 Winter Olympics
18 countries are studying the decision to launch their own digital currency … Get to know it
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